Question: When should a consolidated entity recognize a goodwill impairment loss? a. If both the fair value of a reporting unit and its associated implied goodwill

When should a consolidated entity recognize a goodwill impairment loss?

a. If both the fair value of a reporting unit and its associated implied goodwill fall below their respective carrying amounts.
b. Whenever the entity’s fair value declines significantly.
c. If the fair value of a reporting unit with goodwill fall below its carrying amount.
d. Annually on a systematic and rational basis.

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